Tal Cohen compensation by year
NASDAQ Summary Compensation Table · all 3 fiscal years held| Component | FY2022 | FY2024 | FY2025 |
|---|---|---|---|
| Salary | $586,539 | $700,000 | $736,539 |
| Bonus | $0 | $200,000 | $0 |
| Stock awards | $5,488,332 | $4,681,154 | $14,673,516 |
| Option awards | $0 | $0 | $0 |
| Non-equity incentive | $1,420,551 | $1,644,323 | $1,921,885 |
| Pension and deferred compensation | $0 | $0 | $0 |
| All other | $18,300 | $20,700 | $33,515 |
| Total | $7,513,722 | $7,246,177 | $17,365,455 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: NASDAQ, INC. DEF 14A filed April 24, 2026, accession 0001628280-26-027245, and prior-year filings. Open the filing on EDGAR.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| RSU | 154,786 | $15,034,364 | — |
| PSU | 126,248 | $12,262,468 | — |
| PSU | 94,686 | $9,196,851 | — |
| PSU | 92,056 | $8,941,399 | — |
| PSU | 89,902 | $8,732,181 | — |
| RSU | 46,028 | $4,470,700 | — |
| RSU | 15,781 | $1,532,809 | — |
| RSU | 12,843 | $1,247,441 | — |
| RSU | 12,842 | $1,247,343 | — |
| RSU | 11,835 | $1,149,534 | — |
| RSU | 6,128 | $595,213 | — |
| PSU | 2,196 | $213,297 | — |
Per the Outstanding Equity Awards at Fiscal Year-End table in NASDAQ, INC.'s FY2025 proxy; value at the fiscal year-end close, as the company printed it.
Insider transactions since the last proxy
1 Form 4 line since the FY2025 proxy (filed April 24, 2026)current to 2026-09-24 · updated nightly
| Date | Transaction | Plan | Shares | Price | Held after |
|---|---|---|---|---|---|
| 2026-04-27 | Sale | — | 15,518 | $90.75 | 215,208 |
The 1 most recent of 1 lines, each as reported on the Form 4. "10b5-1" marks a trade the filing reports under a pre-arranged trading plan. View every Form 4 filing on EDGAR →
Change-in-control & termination
estimated payments NASDAQ discloses, by trigger · FY2025| Trigger | Cash severance | Accelerated equity | Benefits continuation | Total as disclosed |
|---|---|---|---|---|
| Resignation for good reason, no change in control | $3,375,000 | $6,782,977 | $38,723 | $11,753,700 |
| Disability | $0 | $24,274,827 | $0 | $25,774,827 |
| Involuntary termination without cause | $3,375,000 | $6,782,977 | $38,723 | $11,753,700 |
| Death | $0 | $24,274,827 | $0 | $25,774,827 |
| Change in control and involuntary termination | $4,500,000 | $24,274,827 | $41,716 | $30,316,543 |
Per the Potential Payments Upon Termination or Change in Control table in NASDAQ, INC.'s FY2025 proxy. Estimates as the company printed them; a dash means it printed no figure.
NASDAQ’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| Adena Friedman | Chair and CEO | $25,014,550 |
| Tal Cohen · this page | President | $17,365,455 |
| Sarah Youngwood | EVP and CFO | $9,945,096 |
| P.C. Nelson Griggs | President | $8,360,335 |
| Bradley J. Peterson | EVP and CIO/CTO | $6,118,574 |
The full NASDAQ compensation record
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Compensation, the day it’s disclosed
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How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are NASDAQ's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.
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